Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Basketball Star Garnett Sues Accountant Over Loss of $77M to Wealth Manager
Sep 10 2018 // Kevin Garnett is suing an accountant and his firm, alleging they helped a wealth manager steal $77 million from the retired Minnesota Timberwolves and Boston Celtics star. The federal malpractice lawsuit alleges...
ILS Market Could Bear 20% of Hurricanes Harvey, Irma, Marie Loss: A.M. Best
Sep 10 2018 // The insurance-linked securities (ILS) market potentially could bear up 20 percent of the insured losses generated by Hurricanes Harvey, Irma and Marie, according to an A.M. Best report. These three hurricanes during a...
Insured Losses from Typhoon Jebi Estimated at $2.3-$4.5 Billion: AIR
Sep 9 2018 // Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses from Typhoo Jebi, which made landfall in Japan on Tuesday, Sept. 4, will be between $2.3 billion (JPY 257 billion) and $4.5 billion (JPY...
Judge Tosses Uber Investors’ Class Action Bid Over Stock Losses
Sep 4 2018 // Uber Technologies Inc. and its former Chief Executive Officer Travis Kalanick defeated a lawsuit claiming the company swept illicit business practices under the rug that cost investors billions of dollars. U.S. District...
Constructive Tips for Reducing Equipment Losses at Jobsites
Sep 3 2018 // If you live in a city or nearby one and see new construction projects popping up at a rapid rate, you’re not alone. Cities throughout the United States are experiencing a boom in construction. Optimism is soaring to...
A Tale of Two Floridas: Hurricane Irma’s Belated Impact on Reinsurers
Sep 3 2018 // Reinsurers expressed different views of loss developments related to Hurricane Irma, when executives reviewed the impact of the Florida event on second-quarter earnings reports last month. Everest Re was among those...
Report: Missouri Medical Professional Liability Insurers Saw Slight Profit in 2017
Sep 3 2018 // In 2017, poor underwriting results for medical professional liability insurers in Missouri were partially offset by higher investment returns, and insurers barely eked out a profit, earning a 0.2 percent return on net...
A.M. Best: Insurers Equipped to Handle Hurricane Lane Losses
Aug 29 2018 // A.M. Best is expecting Hurricane Lane to be considered more of a flood event than a wind event. As a result, the storm that buffeted Hawaii should bring a potential triggering of the National Flood Insurance...
P/C Insurance Industry Delivered Improved Results in First Half
Aug 29 2018 // Mid-year results for U.S. property/casualty insurers and reinsurers show they are on the mend following a trying 2017, according to Fitch Ratings. Operating performance moderately improved for P/C (re)insurers during the...
Big Insurers Still Taking a Pass on Marijuana Profits
Aug 24 2018 // Marijuana is already a multibillion-dollar business in the U.S. that’s drawing attention from some lawmakers eager for tax revenue and investors looking for profits. So far, however, some of the biggest insurers are...
Missouri Insurance Department: Medical Professional Liability Insurers Saw Tiny Profit in 2017
Aug 22 2018 // In 2017, poor underwriting results for medical professional liability insurers in Missouri were partially offset by higher investment returns, and insurers barely eked out a profit, earning a 0.2 percent return on net...
QBE’s Restructuring Gains Traction with Its Focus on Profitable Underwriting
Aug 22 2018 // QBE’s restructuring over the last year has focused on exiting loss-making businesses and portfolios, while rigorously emphasizing profitable underwriting across the group. Good progress has been made — as...
AIR Worldwide Estimates Insured Losses from Japan Floods Could Reach US$4B
Aug 21 2018 // Industry insured losses from the flooding in western Japan caused by excessive rainfall from June 28 to July 8, 2018, will be between JPY284 billion (US$2.6 billion) and JPY423 billion (US$4.0 billion), according to...
China’s Ping An Insurance Profits Rise 34% in First Half, Biggest in 10 Years
Aug 21 2018 // Ping An Insurance Group Co of China , the country’s largest insurer by market value, on Tuesday reported its biggest half-yearly profit in at least a decade on robust customer growth. The results underline strength...
A Tale of Two Floridas: Hurricane Irma’s Belated Impact on Reinsurers
Aug 21 2018 // Reinsurers expressed different views of loss developments related to Hurricane Irma, when executives reviewed the impact of the Florida event on second-quarter earnings reports earlier this month. Everest Re was among...
TWIA Requests 10% Rate Increase; Approves $106.8M Assessment for Harvey Losses
Aug 20 2018 // The board of directors of the Texas Windstorm Insurance Association voted at its recent quarterly meeting to raise rates for residential and commercial properties by 10 percent next year, while acknowledging a rate...
Why Profit Center Accounting Is Important
Aug 20 2018 // Is personal lines costing the agency money? How profitable is that new program business? What would happen to the bottom line if employee benefits sales increased by 25 percent? When is it time to hire a new employee for...
How to Use Profit Centers
Aug 20 2018 // Once all the income and expenses are properly allocated to the various Profit Centers, the fun can begin. Management can run reports to determine the profitability of each business segment. A quick review of the results...
Tighter Regulations in NYC Could Take Bite Out of Airbnb Profits
Aug 17 2018 // Airbnb faces tightening regulations in New York City that could take a big bite out of its profits, and on Wednesday the short-term rental company offered a counter-measure designed to appease hostile politicians: a $10...
Global Insured Catastrophe Losses Decline to $20 Billion in H1: Swiss Re
Aug 16 2018 // Global insured losses from natural catastrophes and man-made disasters during the first half of 2018 were US$20 billion, down from US$30 billion in H1 2017, according to Swiss Re Institute’s latest sigma study. On...
